Lightspeed Venture Partners raises $950M global VC fund

Global venture capital firm Lightspeed Venture Partners has closed its new fund at $950 million, according to a disclosure filed with the Securities and Exchange Commission. 

The fund called ‘Lightspeed Venture Partners X, LP’ pooled in money from as many as 81 investors, as per the disclosure. 

The VC firm—which focuses mainly on internet, mobile and software companies—raised $675 million under its ninth fund in 2012 and has been investing out of it. According to the company’s website, this fund focused on "early- and expansion-stage investments in the consumer, enterprise technology and cleantech markets." 

Recently, it exited its investment in Nest Labs, the maker of high-tech thermostats and smoke detectors, which was snapped by Google for $3.2 billion in cash. Its current portfolio companies include Snapchat, GrubHub, Mulesoft and TaskRabbit. 

Founded in 2000, Lightspeed has offices in Beijing, Shanghai, New Delhi and Herzliya Pituach, Israel. 

In India, the VC firm has an Indian advisory team with offices in New Delhi and has made investments in direct and cross-border Indian companies since 2004 across several stages and sectors, with investment sizes ranging from $1 million to $25 million. 

The firm has backed firms such as AskLaila, Dhingana, Fashionara, Indian Energy Exchange,  ItzCash Card, LimeRoad, OneAssist Consumer Solutions and TutorVista, which was acquired by Pearson.

(Edited by Joby Puthuparampil Johnson)

Leave Your Comment(s)